Word File Edit View Insert Format Tools Table Window Q 2 0 Fri Mar 11 4:14 PM AutoSave ( OFF A A . G G 9 ... WEEK 8 LAB - Saved to my Mac Home Insert Draw Design Layout References Mailings Review View Acrobat Tell me Share Comments Calibri (Bo.. ~ 11 ~ A" A" | Aa ~ | Ap AaBbCcDd AaBbCcDdEe AaBbCcDdEe AaBbCcDdE AaBb AaBbCcDdEE Paste BIUvabx x | A LA Heading 1A Normal No Spacing Heading 2 Title Subtitle Styles Dictate Sensitivity Editor Create and Share Request Pane Adobe PDF Signatures Part 2: FIFO, LIFO and Weighted Average Inventory Costing Methods At the end of the annual accounting period, December 31, the accounting records for Toy Company's most popular item in inventory showed the following: Transactions Units Unit Cost Beginning inventory, January 1 170 $21.00 Transactions during the current period: a. Purchase, March 5 L10 $23.00 b. Purchase, July 30 200 $24.00 c. Sales ($40 each) (290) 1. Using a FIFO inventory system, calculate the following: a. Cost of goods sold for the year ended December 31 b. Ending inventory on December 31 2. Using a LIFO inventory system, calculate the following: a. Cost of goods sold for the year ended December 31 b. Ending Inventory on December 31 3. Using a weighted average inventory system, calculate the following: a. Cost of goods sold for the year ended December 31 b. Ending inventory on December 31 Part 3: Inventory Ratios Billy's Bakery had revenue of $94,200 and gross profit of $52,400 during 2021. Billy's Bakery had an inventory Page 2 of 5 778 words X English (United States) Focus Co + 100%